PerkinElmer (PKI) Tops Q3 EPS by 2c; Narrows Outlook

PerkinElmer (NYSE: PKI) reported Q3 EPS of $0.68, $0.02 better than the analyst estimate of $0.66. Revenue for the quarter came in at $548 million versus the consensus estimate of $572.03 million.

GUIDANCE:

PerkinElmer sees FY2016 EPS of $2.75-$2.77, versus the consensus of $2.80.

“During the third quarter we continued to drive solid operational improvements across the Company resulting in strong margin expansion and EPS growth, however our top line performance was disappointing as our capital intensive businesses experienced challenging market conditions,” said Robert Friel, chairman and chief executive officer of PerkinElmer. “We believe the strong profit performance this quarter and year-to-date validates the steps we are taking to rebalance the portfolio and the recent realignment of our operating segments into Diagnostics and Discovery & Analytical Solutions will help us accelerate that transition.”

For earnings history and earnings-related data on PerkinElmer (PKI) click here.

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